One of the most common questions I receive as a financial planner is some version of this: “My kid earns money doing things around the house — can I pay them for that and then contribute to a Roth IRA for them?” It’s a genuinely important question, because the Roth IRA is an extraordinary wealth-building … Read more
As a fee-only financial planner who has helped hundreds of families open custodial Roth IRAs for their children, the question I hear most often is not “which account is best” — it’s “which account is cheapest.” That’s the right instinct. When you’re opening a Roth IRA for a teenager who earned $4,000 from a summer … Read more
A parent called me last spring with a question I hear constantly: “My daughter just turned 22, has her first real job, and I want to help her start a Roth IRA. Where should she open it?” Choosing a Roth IRA for an adult child sounds simple, but the differences between brokerages — fees, minimums, … Read more